Mid-Morning Market Update: Markets Open Higher; President Trump Signs $900B Covid-19 Relief Bill

Following the market opening Monday, the Dow traded up 0.91% to 30,473.61 while the NASDAQ rose 0.25% to 12,837.34. The S&P also rose, gaining 0.72% to 3,729.63.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 19,136,580 cases with around 333,140 deaths. India confirmed a total of at least 10,207,870 confirmed cases and 147,900 deaths, while Brazil reported over 7,484,280 COVID-19 cases with 191,130 deaths. In total, there were at least 80,852,620 cases of COVID-19 worldwide with over 1,766,330 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors


Energy shares climbed 1.6% on Monday. Meanwhile, top gainers in the sector included Peabody Energy Corporation BTU, up 39%, and Gevo, Inc. GEVO, up 15%.


In trading on Monday, real estate shares rose by just 0.4%.


Top Headline

President Donald Trump has signed the $900 billion COVID-19 relief bill, which was passed by both the House of Representatives and the Senate with an overwhelming majority last week.

On Monday, the House will vote to increase payments to individuals from $600 to $2,000 — a family of four would receive $5,200 under the proposal.

 

Equities Trading UP


AeroCentury Corp. ACY shares shot up 126% to $6.07 after the company reported that the NYSE accepted its plan for continued listing.


Shares of Aqua Metals, Inc. AQMS got a boost, shooting 41% to $3.295 after the company completed its V1.25L electrolyzer program on time and under budget.


Flux Power Holdings, Inc. FLUX shares were also up, gaining 32% to $16.89.


Equities Trading DOWN

Aprea Therapeutics, Inc. APRE shares tumbled 76% to $6.13 after the company's phase 3 trial of Eprenetapopt missed its primary endpoint.

Shares of Air T, Inc. AIRT were down 41% to $22.52. Air T shares jumped 294% on Thursday after the company announced plans to form a new aircraft equity vehicle.

Addex Therapeutics Ltd ADXN was down, falling 37% to $15.22 after the stock surged as much as 182% on Thursday.


Commodities


In commodity news, oil traded up 0.9% to $48.68, while gold traded down 0.2% to $1,879.30.


Silver traded up 2.1% Monday to $26.44 while copper rose 0.7% to $3.5860.


Euro zone

European shares were higher today driven by news of Britain and the European Union signing the long-awaited Brexit deal. The eurozone’s STOXX 600 rose 0.7%, the Spanish Ibex Index rose 0.5% and German DAX 30 gained 1.5%. Meanwhile, the French CAC 40 rose 1.2% and Italy’s FTSE MIB Index rose 0.9%.

London's FTSE 100 is closed today for the Boxing Day holiday. Spain's retail sales fell 4.3% year-over-year in November.

 


Economics


The Dallas Fed's general activity index for December is scheduled for release at 10:30 a.m. ET.


The Treasury is set to auction 6-month bills and 2-year notes at 11:30 a.m. ET.


The Treasury will auction 3-month bills and 5-year notes at 1:00 p.m. ET.


Data on money supply for the recent week will be released at 4:30 p.m. ET.

Posted In: Mid-Morning Market UpdateNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarkets

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